Question

    Under the Payment and Settlement Systems Act if an

    applicant's application for the operation of a payment system is refused or a system provider is aggrieved by an order of revocation, what action can they take?
    A File a lawsuit against the Reserve Bank Correct Answer Incorrect Answer
    B Appeal to the Supreme Court Correct Answer Incorrect Answer
    C Appeal to the Reserve Bank Correct Answer Incorrect Answer
    D Appeal to the Central Government Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Section 9.   Appeal to the Central Government: (1) Any applicant for an authorisation whose application for the operation of the payment system is refused under sub-section (3) of section 7 or a system provider who is aggrieved by an order of revocation under section 8 may, within thirty days from the date on which the order is communicated to him, appeal to the Central Government.

    Practice Next

    Hey, Don't leave. If you have any queries regarding any exam let us know here.

    ask-question